Gameplay Galaxy secured $12.8 Million Seed Funding to build Web3 Competitive Gaming Ecosystem

Gameplay Galaxy, a California-based Web3 powered, decentralized competitive gaming ecosystem has now secured $12.8 million in a seed funding round.

Gameplay Galaxy was founded by Doron Kagan and Maya Gurevich. It offers a Web3-powered, decentralized competitive gaming ecosystem. Developed by the creators of the blockbuster Web2 gaming series Trial Xtreme, which reached around 250 million downloads across a wide range of bike racing games, Gameplay Galaxy players can own, buy and sell vehicles, characters, racetracks, workshops, and some other items as NFTs in a straightforward manner.

Doron Kagan, Founder and Chief Executive Officer of Gameplay Galaxy, said, "The advent of Web3 has resulted in an open field of creative opportunities for game creators. Gameplay Galaxy has designed a new ecosystem that harnesses the full power of Web3 to provide a much more exciting and interactive gaming experience for our players. Our players are always our focus, and we are also keenly aware of the need to advance the gaming industry’s business model and are proud of the role this launch will play in that evolution. Our Web3 ecosystem enables players anywhere in the world to play an active role in how the game is played, as well as to group into guilds and take part in game ownership and enjoy the financial upside of the game’s success. This coupling of rich gameplay experience with profitability potential – all on a Web3 platform – is a first-of-its-kind model and an important next step for the gaming industry overall."

Maya Gurevich, Founder and Chief Operating Officer of Gameplay Galaxy, said, "The Web3 space has delivered innovations we couldn’t have possibly predicted even five years ago, and now, we are thrilled to bring forth the newest innovation: decentralized competitive games that are owned and operated by the players themselves. We believe the possibilities for Gameplay Galaxy are limitless, and we look forward to working with our players to scale our new gaming social experience and become the go-to source for extreme sports in the metaverse."

The round was backed by Blockchain Capital, with participation from the Merit Circle, Mysten Labs, Yield Guild Games, Solana ventures, Com2uS, and Hustle Fund.

The company, as of now, has plans to use the new funds to build games that will unite the most innovative Web3 capabilities, design and create seamless experiences, onboard Web2 players to this Web3 gaming ecosystem, expand its development team and develop its wallet offering.